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Saudi Arabian (Tadawul) Market Analysis & Valuation

UpdatedNov 14, 2025
DataAggregated Company Financials
Companies384
  • 7D-0.9%
  • 3M4.0%
  • 1Y-8.2%
  • YTD-9.2%

The market has been flat over the last week. As for last year, the market is down 8.2%. Earnings are forecast to grow by 9.3% annually.

Market Valuation and Performance

Has the Saudi Arabian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 18 Nov 2025ر.س9.5tر.س2.8tر.س521.1b18.8x18.2x3.4x
Thu, 16 Oct 2025ر.س9.5tر.س2.9tر.س519.2b21.2x18.3x3.3x
Sat, 13 Sep 2025ر.س8.7tر.س2.8tر.س519.0b20.1x16.7x3x
Mon, 11 Aug 2025ر.س9.1tر.س2.8tر.س519.3b20.5x17.5x3.2x
Wed, 09 Jul 2025ر.س9.3tر.س2.9tر.س542.8b21.4x17.2x3.2x
Fri, 06 Jun 2025ر.س9.2tر.س2.9tر.س542.0b21.7x16.9x3.2x
Sun, 04 May 2025ر.س9.5tر.س2.9tر.س546.8b22.1x17.3x3.3x
Tue, 01 Apr 2025ر.س9.9tر.س2.9tر.س543.6b22.9x18.3x3.5x
Thu, 27 Feb 2025ر.س10.1tر.س2.9tر.س556.6b23.8x18.1x3.5x
Sat, 25 Jan 2025ر.س10.4tر.س2.9tر.س552.3b24.3x18.7x3.6x
Mon, 23 Dec 2024ر.س10.3tر.س2.9tر.س552.1b23.1x18.6x3.6x
Wed, 20 Nov 2024ر.س10.2tر.س2.9tر.س551.6b24.1x18.5x3.6x
Fri, 18 Oct 2024ر.س10.0tر.س2.9tر.س571.7b25.6x17.6x3.5x
Sun, 15 Sep 2024ر.س10.0tر.س2.9tر.س571.1b25.6x17.4x3.5x
Tue, 13 Aug 2024ر.س10.1tر.س2.9tر.س570.2b24.6x17.8x3.6x
Thu, 11 Jul 2024ر.س10.1tر.س2.8tر.س567.5b25.9x17.9x3.6x
Sat, 08 Jun 2024ر.س10.1tر.س2.8tر.س566.9b25.1x17.8x3.6x
Mon, 06 May 2024ر.س10.7tر.س2.8tر.س579.7b27.6x18.5x3.8x
Wed, 03 Apr 2024ر.س10.9tر.س2.8tر.س578.0b27.6x18.9x3.9x
Fri, 01 Mar 2024ر.س11.2tر.س2.9tر.س605.8b28x18.5x3.9x
Sun, 28 Jan 2024ر.س11.0tر.س2.9tر.س604.6b25.4x18.2x3.9x
Tue, 26 Dec 2023ر.س11.2tر.س2.8tر.س604.4b24.1x18.6x3.9x
Thu, 23 Nov 2023ر.س11.1tر.س2.8tر.س604.6b23.6x18.4x3.9x
Sat, 21 Oct 2023ر.س11.0tر.س3.0tر.س636.9b23.7x17.2x3.7x
Mon, 18 Sep 2023ر.س11.2tر.س3.0tر.س636.4b24.5x17.6x3.8x
Wed, 16 Aug 2023ر.س11.3tر.س3.0tر.س640.2b25.6x17.7x3.8x
Fri, 14 Jul 2023ر.س11.0tر.س3.2tر.س715.4b25.9x15.4x3.4x
Sun, 11 Jun 2023ر.س10.9tر.س3.2tر.س714.2b26.9x15.3x3.4x
Tue, 09 May 2023ر.س10.2tر.س3.3tر.س754.8b25.2x13.5x3.1x
Thu, 06 Apr 2023ر.س10.2tر.س3.2tر.س758.2b24.6x13.4x3.1x
Sat, 04 Mar 2023ر.س9.7tر.س3.2tر.س752.6b23.7x12.9x3x
Mon, 30 Jan 2023ر.س10.2tر.س3.2tر.س750.2b24.2x13.6x3.2x
Wed, 28 Dec 2022ر.س9.8tر.س3.2tر.س750.1b23.7x13.1x3.1x
Fri, 25 Nov 2022ر.س10.2tر.س3.2tر.س748.3b24.4x13.6x3.2x
Price to Earnings Ratio

13.6x


Total Market Cap: ر.س10.2tTotal Earnings: ر.س748.3bTotal Revenue: ر.س3.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Saudi Arabian Market Price to Earnings3Y Average 17x202320242025
Current Market PE
  • Investors are relatively neutral on the Saudi market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 17.0x.
Past Earnings Growth
  • The earnings for companies in the Saudi industry have declined 11% per year over the last three years.
  • Revenues have also declined 3.9% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the Saudi Arabian Market?

SA Market-0.91%
Energy-0.46%
Real Estate-0.77%
Materials-0.80%
Telecom-1.44%
Tech-1.51%
Industrials-1.52%
Healthcare-1.70%
Utilities-1.96%
Consumer Staples-2.34%
Financials-2.46%
Consumer Discretionary-2.93%
Sector PE
  • Investors favour the Healthcare sector the most for future growth even though it's trading below its 3-year average PE ratio of 43.9x.
    • Analysts expect its future annual earnings growth (15.9%) to be largely in line with prior year's earnings growth.
    • The market's confidence could indicate that the market believes that analysts are underestimating future growth.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 59% over the next 5 years.
  • This is better than its past earnings growth rate of 5.3% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings decline by 2.9% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
4070 Tihama for Advertising Public Relations and Marketingر.س47.9298.3%
+ر.س950.1m		79.0%PS29.4xTelecom
1303 Electrical Industriesر.س11.803.3%
+ر.س422.8m		47.7%PE25xIndustrials
4210 Saudi Research and Media Groupر.س160.703.1%
+ر.س384.0m		-38.2%PS4.6xTelecom
2382 ADES Holdingر.س17.152.0%
+ر.س363.3m		-10.0%PE23.5xEnergy
4019 Specialized Medicalر.س21.137.3%
+ر.س357.5m		n/aPE33.3xHealthcare
See more

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4280
ر.س7.67
Kingdom Holding
7D
1.1%
1Y
-20.6%
4070
ر.س47.92
Tihama for Advertising Public Relations and Marketing
7D
98.3%
1Y
79.0%

There's Reason For Concern Over Tihama for Advertising, Public Relations and Marketing Company's (TADAWUL:4070) Massive 65% Price Jump

Nov 17
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2082
ر.س213.70
ACWA Power
7D
-2.9%
1Y
-46.4%

2082: Multiple New Projects Are Expected To Drive Steady Performance Ahead

Analysts have slightly reduced their price target for ACWA Power from SAR 197.4 to SAR 197.2, citing changes in projections for revenue growth and profitability. What's in the News ACWA Power received the Initial Commercial Operation Certificate for an additional 1,000 MW capacity at the ArRass2 PV IPP project in Qassim Region.
1211
ر.س60.45
Saudi Arabian Mining Company (Ma'aden)
7D
-1.6%
1Y
11.3%

1211: Exploration Licenses and Margin Outlook Will Shape Share Performance

Analysts have moderately raised their price target for Saudi Arabian Mining Company (Ma'aden) from SAR 54.68 to SAR 55.37. This adjustment is due to improvements in expected profit margins, which slightly offset lower projected revenue growth.
4210
ر.س160.70
Saudi Research and Media Group
7D
3.1%
1Y
-38.2%
8200
ر.س30.74
Saudi Reinsurance
7D
6.7%
1Y
18.1%
7010
ر.س43.40
Saudi Telecom
7D
-1.0%
1Y
8.5%

There May Be Reason For Hope In Saudi Telecom's (TADAWUL:7010) Disappointing Earnings

Nov 13
There May Be Reason For Hope In Saudi Telecom's (TADAWUL:7010) Disappointing Earnings
1120
ر.س100.00
Al Rajhi Banking and Investment
7D
-1.4%
1Y
9.3%

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Nov 13
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4019
ر.س21.13
Specialized Medical
7D
7.3%
1Y
n/a
1810
ر.س30.14
Seera Holding Group
7D
4.4%
1Y
33.5%
2010
ر.س56.70
Saudi Basic Industries
7D
-1.8%
1Y
-18.7%
2222
ر.س25.84
Saudi Arabian Oil
7D
-0.4%
1Y
-7.1%

2222: Future Revenue Strength Will Drive Upstream And Downstream Integration

Analysts have raised their price target for Saudi Arabian Oil by $0.32, citing slightly improved revenue growth forecasts and a modestly higher fair value estimate. Valuation Changes Fair Value Estimate has risen slightly from SAR 28.65 to SAR 28.96.
2382
ر.س17.15
ADES Holding
7D
2.0%
1Y
-10.0%

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Nov 06
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1180
ر.س38.08
Saudi National Bank
7D
-1.9%
1Y
14.9%

1180: Improved Revenue Drivers And Legal Resolution Will Unlock Untapped Market Potential

Analysts have raised their price target for Saudi National Bank from SAR46.51 to SAR47.30, citing improved revenue growth expectations and a slight reduction in the discount rate as key drivers for the upgrade. What's in the News Thimar Development Holding Company won a final legal decision on September 18, 2025, in its lawsuit against Saudi National Bank regarding compensation for disputed checks (Key Developments).
1303
ر.س11.80
Electrical Industries
7D
3.3%
1Y
47.7%

Statutory Profit Doesn't Reflect How Good Electrical Industries' (TADAWUL:1303) Earnings Are

Nov 04
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1140
ر.س27.46
Bank Albilad
7D
-3.8%
1Y
-9.1%